Shift to the More Profitable TV Content Indicates Studio's Challenges with Movies

Sony Corp.'s film studio will make a "significant shift from motion pictures to higher margin television production and networks," Sony Entertainment Chief Executive Michael Lynton told investors Thursday.

The announcement is an acknowledgment that despite its prestige, Sony's movie business is more financially challenged than television right now. Sony Pictures has had a difficult year at the box office with flops like "White House Down" and "After Earth," while its television business,...